Paint sales aren’t drying up in 2020.
Spending on home improvement projects continues to soar through the roof, with more Americans home during the pandemic – and paint projects are just the latest way consumers are adding color to a rather dark year.
“People are doing projects at home. They’re focused on staying safe and staying inside and staying close to home and they’re noticing their trim needs a fresh coat of paint, or they’re Zooming and they hate their backdrop,” Sue Wadden, director of color marketing at Sherwin-Williams, told FOX Business.
The Cleveland-based paint and coating manufacturing company attributes its strong third-quarter growth to DIY repairs at home, the company’s CEO John G. Morikis said in a statement earlier this month. And with stores closed like a number of other retailers during statewide shutdowns, Sherwin-Williams for the first time made its paint color chip ordering available online, and has since shipped more than 1 million home orders since March, the company said.
SHERWIN-WILLIAMS RAISES SALES GUIDANCE AS CONSUMERS DOING DIY PROJECTS DRIVE UNPRECEDENTED DEMAND
Many consumers are likely giving their living spaces a makeover to lighten the mood – literally – of 2020. Brooklyn, N.Y.-based Kristen Duffy, 32, who works in fashion, painted her living room a safe green in May and has already bought another gallon of blush pink, spending around $150 to brighten her space.
Wadden says while neutrals like beige and grey paint colors are still the most popular, more consumers have opted for earthy hues to evoke the feel of nature inside, with greens, browns and more tranquil colors like eucalyptus.
“We’re seeing neutrals in high demand to warm up a space with taupe, bone whites and warmer colors to create more of a sanctuary – the idea that we’re rooted and anchored and feeling good about our spaces and color is a huge part of that,” Wadden said.
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Consumers have also been drawing a line, quite literally, between their work and living space with color. Wadden says some of the most popular colors during the pandemic have been Silvermist, a serene green-grey, and Taiga, a light sage shade.
“I see a lot of lighter and brighter backdrops popping up with plants and shelves,” Wadden said of people wanting to brighten up their Zoom backdrops with a fresh coat of paint.
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Forty-four percent of Americans plan to repaint their homes this year, according to a J.D. Power’s 2020 Paint Satisfaction Study from April. What’s more, 80% of consumers polled in a separate survey from Apartment Therapy of 1,000 people in June said they planned home improvement projects for their homes with 72% saying they have or plan to partake in a DIY-specific project.